Nigeria is embracing a new era of responsible online gaming with the introduction of Remote Operator Permits. These permits enable businesses with licenses from other jurisdictions to extend their services to Nigerian players, offering a range of gaming options, including casino games, bingo, slots, sports betting, and poker. This initiative is set to enhance the country’s gaming industry while ensuring compliance with regulations and taxation.
Remote Operator Permits: A Gateway to Nigerian Market
Businesses holding licenses from other jurisdictions can now tap into the Nigerian gaming market by obtaining a Remote Operator Permit. This permit, valid for five years, facilitates entry into the Nigerian gaming landscape. To acquire the permit, operators will pay an initial fee of $100,000, followed by annual fees of $50,000 for the subsequent four years. The Nigerian National Lottery Regulatory Commission will provide terms and conditions for permit-holders to ensure adherence to regulatory standards.
Expanding Services and Advertising in Nigeria
Remote Operator Permit holders gain the privilege of offering their gaming services within Nigeria’s borders. Moreover, they can promote their services through print media or affiliate programs. This move aligns with the growing popularity of online gaming in Nigeria, particularly on mobile platforms, presenting a significant opportunity for responsible offshore gaming operators.
Revolutionizing Tax Collection with Sentinal
A critical component of this new gaming regime is an advanced tax collection system powered by the UK-based fintech company E-Technologies Global Limited’s Sentinal product. This innovative system enables payment providers to deduct taxes at the point of transaction and instantly remit the funds to the Treasury. Mohammad Nami, the Executive Chairman of the Federal Inland Revenue Service of Nigeria, highlights the importance of leveraging technology to enhance tax revenue collection, particularly in the face of global economic challenges.
Mr. Nami emphasizes, “The world is entering a challenging time where there is a strong obligation on governments to increase tax revenue as a percentage of GDP so as to provide much-needed funding for local infrastructure and public services.”
E-Technologies’ Sentinal system not only streamlines tax collection but also provides real-time tax reporting and monitoring tools. The system seamlessly integrates with Nigeria’s TaxPro Max portal, enhancing efficiency and transparency in revenue management.
Welcoming Responsible Offshore Operators
Lanre Gbajabiamila, the Director General of the National Lottery Regulatory Commission of Nigeria, extends a warm welcome to responsible offshore gaming operators willing to comply with Nigeria’s criteria, including full anti-money laundering (AML) screening and responsible gaming practices. He notes that the adoption of E-Technologies’ Sentinal National Payment Gateway represents a significant step in capturing gaming duty at the source, reinforcing the country’s commitment to responsible gaming.
E-Technologies’ CEO, David Kicks, regards this landmark deal as a substantial stride towards expanding the regulated gaming sector while diminishing the influence of grey markets. He states, “This landmark deal will herald a new era in rapidly opening new regulated markets for responsible gaming operators, as grey market operating becomes increasingly problematic.”
Nigeria’s introduction of Remote Operator Permits, coupled with innovative tax collection technology, signifies a progressive shift towards responsible online gaming. This initiative not only enriches the gaming landscape but also aligns with the global trend of enhancing tax revenue collection to support essential public services and infrastructure. As the Nigerian gaming market continues to evolve, responsible offshore operators have the opportunity to contribute positively to this burgeoning industry.